Halifax’s BT credit card tops the charts

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Halifax has stepped ahead of its rivals by reducing the introductory balance transfer fee on its credit card by 0.32% for a limited period, thereby securing pole position in the Moneyfacts charts.

The basics…

40 Month Balance Transfer Credit Card MasterCard has a joint market-leading 40-month interest-free term for balance transfers with a new balance transfer fee of 2.58% (after a partial refund) until 11.4.16. Borrowers can also take advantage of a six-month 0% interest term for purchases.

The finer details…

Borrowers must transfer their balances within 90 days in order to qualify for the 40-month interest-free offer. Once the initial offers expire, balance transfers will be charged at an annual rate of 18.95% with a fee of 3.00%, while standard purchases will be charged at 18.9% APR.

Borrowers must be at least 18 years old to apply and applications can be made online or by phone. Applicants should remember that rates are representative and dependent on their credit history.

Why we like it…

By reducing the introductory fee for balance transfers, Halifax has nudged its closest competitors out of the way to gain a place at the very top of its sector. Borrowers snapping up this deal will therefore not only be able to benefit from a lengthy 40-month 0% interest term, but also a cost-effective fee, although applicants will need to be quick as this reduced fee is only available for a limited period. This is an outstanding product that fully deserves the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.